Binance Smart Chain and Animoca Brands have teamed up by launching a $200 million programme to fund startups in the blockchain gaming industry.

According to an announcement released on Monday, Binance Smart Chain and Animoca Brands will donate $100 million each to fund gaming startups building their games on Binance Smart Chain (BSC).

Binance Smart Chain will be pulling its $100 million from its BSC $1B Growth Program, an initiative launched with the mission to accelerate the adoption of digital assets and blockchain technology and create a blockchain ecosystem.

Animoca Brands is a major stakeholder in NFTs and the metaverse with a large portfolio of blockchain investments in Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Bitski, Harmony, Alien Worlds, and Star Atlas.

In the last 24 hours, bitcoin has been down by 2.58%, with a current price of $48,222.28 as of the time of writing this. Within 24 hours, bitcoin dropped to $47,261.50 low and $49,584.67 high. The trading volume of bitcoin in the last 24 hours is $1.93B. The current market capitalization of bitcoin is $909.01B. Currently, $18.89M bitcoins are in circulation.

Stats and Image from Coin Desk

The Executive Chairman and Co-Founder of Animoca, Yat Siu, Brands commented on the partnership, saying, “Early GameFi projects require funding to build their products, and need industry expertise for open-world gameplay and tokenomics, as well as networking opportunities to establish growth in the blockchain gaming and open metaverse. This investment program will provide these necessities to the projects that we think have the potential to take blockchain mainstream.”